« previous next »

Author Question: Suppose early one Friday morning the economics club buys 200 donuts at 25 cents each, and plans to ... (Read 20 times)

penza

  • Hero Member
  • *****
  • Posts: 1,022
on: Jun 29, 2018
Suppose early one Friday morning the economics club buys 200 donuts at 25 cents each, and plans to sell all of them later in day on campus for 50 cents each.
 
  Only 60 donuts are sold at 50 cents, however, and by early afternoon the club is seen trying to unload the remaining donuts for 10 cents each. What is the correct price of one of donut? A) 10 cents
  B) 25 cents
  C) 50 cents
  D) Stated this way, the question is meaningless.

Question 2

The decrease in social surplus from a market distortion is referred to as:
 
  A) deadweight loss.
  B) market loss.
  C) revenue loss.
  D) Pareto loss.


apple

  • Sr. Member
  • ****
  • Posts: 352
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

The cranium of early African H. erectus KNM-ER 3733 is nearly 1.8 million years old. The cranium of early African H. erectus KNM-ER 3733 is nearly 1.8 million years old.
This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc
Literacy Development in the Early Years: Helping Children Read and Write Literacy Development in the Early Years: Helping Children Read and Write
Economics question Economics question
Economics question Economics question
Video: Regulation of GFR: autoregulation via tubuloglomerular feedback, neural & hormonal regulation

For a complete list of videos, visit our video library